January 1, 2023

Annual Federal Update

General

  • 2022 CPI-U and chained CPI-U

Federal Tax

  • 2023 Income Tax Brackets
  • 2023 Standard Deduction
  • 2023 Taxable Income Limits for incorporating Capital Gains taxes
  • 2023 AMT Thresholds
  • 2023 Child Tax Credit
  • 2023 Earned Income Credit
  • 2023 Medicare B premium and income brackets

Social Security

  • 2023 Contribution and Benefit Base
  • 2023 Earnings required for a quarter of coverage
  • 2022 COLA
  • 2022 Retirement Earnings Test Annual Exempt Amounts
  • 2022 WEP Substantial Earnings
  • 2022 Real wage Differential
  • 2021 Average Wage Index

Secure Act 2.0 RMD age changes

  • 2023 RMD start age changes to 73
  • 2033 RMD start age changes to 75